Binance CEO CZ Concerned Over New Protection Policy

• The value of top cryptocurrencies gained despite U.S. Federal Reserve’s announcement.
• Turkey’s central bank forbade cryptocurrency payments in April 2021.

Despite the U.S. Federal Reserve’s decision on Wednesday that interest rates would be increased by an additional 75 basis points to fight inflation, the value of the top cryptocurrencies increased last week. Announcements like this are always bad for the cryptocurrency markets.

The question of whether the United States is currently experiencing a recession after two consecutive quarters of negative GDP growth is hotly contested. According to the White House, it is no. Because of the heated discussion, Wikipedia’s Recession page has a semi-protection set as its editing permissions, requiring new or infrequent users to wait four days and make ten edits on other pages before they may edit the article.

Wikipedia’s protection policy said :

Semi-protection is useful when there is a significant amount of disruption or vandalism from new or unregistered users.

CZ Discussed Crypto With Nureddin Nebati

Changpeng  Zhao, CEO of Binance, was upset by the news, but at least he gave support. Additionally, he confirmed a meeting with Nureddin Nebati, Turkey’s finance minister.

Despite Turkey having some of the greatest per capita cryptocurrency usage in the world, the country’s central bank outlawed cryptocurrency payments in April 2021. According to certain sources, the country is formulating legislation to regulate the market. 

One possible idea stipulates that cryptocurrency businesses must have a minimum of 100 million liras ($5.6 million) and that foreign exchanges and lenders seeking to operate in Turkey may need to set up branch offices that are subject to taxation.